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Table of Contents Benefits and Beyond-A Comprehensive and Strategic Approach to Retirement, Health Care, and More by Thomas E. Murphy Preface About the Author Chapter 1: Introduction to Benefits (pp 1-21) The Plans Sponsor's Dilemma Benefits Infrastructure Employers and the Business Strategy Learning Objectives Topics Covered Conclusion Business Strategy Illustration Benefits Analytical Template An Example of the Analytical Template Chapter Exercises Chapter 2: Human Resource Economics, Principles, and Actuarial Concepts (pp 22-56) Total Rewards Monetary Value of Benefits The Benefits Model Internal Fairness External competitive rewards Positively affects employee behaviors Cost effective and efficiently administered Actuarial Principles Conclusion Chapter Exercises Chapter 3: Lifecycle Events (pp 57- 85) Benefits respond to lifecycle events Health Disability Employee Counseling Child Birth and Adoption Daycare Educational Assistance Caring for Sick Dependents Retirement Retiree health care Marriage Separation from Employment Death of the Employee Time Off from Work Cultural and Global Perspective Conclusion Chapter Exercises Chapter 4: Retirement Plans-Evolution and Design (pp 86-134) Introduction Factors Affecting Retirement Plan Design Financing of Retirement Plans Fund Protection The Benefits Model Basic Design Features of a Defined Benefit Plan Coverage and Eligibility Vesting Benefit Calculation Typical Final Average Pay Formula Funding Beneficiaries Participating Service Age at retirement Pension Adjustments and Distributions Covered compensation Social Security offsets and adjustments Level Income Optional benefit Breaks in service Disability retirement Non-portability of DBP benefits The allocation of risk in DBPs Defined Contribution Plans Rationale of a Defined Contribution Plan (DCP) 401(k) Design features - Coverage and Vesting Employer contributions (matches) Ownership v. Promise to Pay Limits on contributions Investment choices Loans and withdrawals Administration Distribution Broad Participation and Discrimination Testing Some Perspective The Evolution continues Hybrid Cash Balance Plan Design Features Profit Sharing Retirement Employee Alignment - The Employee Stock Ownership Plan Evolution and the Small Employer Chapter Exercises Chapter 5: Pension Plans for Small Employers & Retirement Planning (135-153) Evolution Reaches the Small Employer and the Self-employed Individual Retirement Account (IRA) The Savings Incentive Match Plan for Employees of Small Employers (The SIMPLE) Simplified Employee Pension (SEP) Money Purchase Plan The KEOGH Contemporary Issues in Retirement Migration from DBPs to DCPs Special Early Retirement Plans Persistent low savings rates and higher living costs Some ideas to simplify employer-sponsored plans Retirement Planning - Will Your Employee Have Enough to Retire? Principles and strategies for retirement planning Annuities Retirement and continued utilization of older workers. Conclusion Chapter Exercises Chapter 6: Health Care (pp 154-181) Introduction Parties and Interests Involved in Health Care Employer-sponsored Plans - Taxes, Financing, and Market Factors Financing Market Conditions Inflation Evolution of Health Care Plan Designs - Some Principles The Benefits Model - Health Care Design Features of the Major Medical or Indemnity Plan Coverage Eligibility Which medical procedures are covered and for how much? Utilization review Employee cost sharing Out-of-pocket maximum Lifetime maximum Coordination of Benefits Bundling and Unbundling Plans Summary Chapter Exercises Chapter 7: The Evolution of Health Care Plan Designs (pp 182-213) Introduction Preferred Provider Organization (PPO) - Discounts and Volume Point of Service Plan (POS) - Management of Referrals Health Maintenance Organization (HMO) - More Managed Utilization and Care Direct Contracting and Capitation Consumer-Driven Health Care Choices of Plans - What Should the Employer Sponsor Offer? Employer-sponsored Wellness Programs Retiree Health Care Factors Affecting the Cost of the Employer-Sponsored Plan Insured Plans Third Party Administrator (TPA) Selection Conclusion Chapter Exercises Chapter 8: Improving Access to Quality Health Care-Do we Need Reform? (pp 214-252) Underlying Problems of Cost and Affordability - Value and the Lack of Quality Stating the Underlying Problem - High Costs of Health Care Health Care Investment and Efficacy Inappropriate Care and Clinical Quality Measurements Errors Increase Costs Our Culture, System, and Prices Profile of the Uninsured What Are Some Possible Solutions? Improving access to quality care - making health care affordable Electronic medical information systems Quality based competition among providers Reducing administrative expense Preventive medicine Broadening competition among TPAs. Tax changes Tort reform Encouraging integrated health practices Consumer-driven health care Put it all Together New Health Care Delivery and Financing Systems - Health Care Reform Enlarge coverage of public health care programs Universal or single-payer program Employer mandates Mandating individual coverage Market-based reform Other approaches Conclusion Some Perspective on the Bureaucratic Barriers to Health Care Reform Chapter Exercises Chapter 9: Benefit Legal Compliance-Employee Retirement Security Act (ERISA), the Internal Revenue Code (IRC), and the Pension Protection Act of 2006 (PPA) (pp. 253-291) History The Basic Provisions of ERISA Coverage Reporting and Disclosure Fiduciary Responsibility Participation and vesting Benefit accrual requirements Benefits distribution Spouses Lump sums and DBPs Minimum funding standards Preemption - Pension plans Preemption -- Health care Tax Treatment of Retirement Plans Non-alienation of Benefits Freezes and Terminations Cash Balance Plans - Legal Phased Retirement Bankruptcy ERISA and IRC Enforcement Insuring Benefits When a Plan is Terminated Conclusion Chapter Exercises Chapter 10: Employee Benefits and Metrics (pp 292-330) A New Perspective - Benefits Are Not Just Costs The Metrics Template for Benefits The Data and Metrics Tool Box - Surveys and Assessments Tool Box - Efficiency, Costs, and Productivity Tool Box - Data Sources for Measurement - Human Resource Management Systems (HRMS) Sound Measurement - Validity, Reliability, and Practicality Measuring the Financial Value of Benefit Plans - Using Capital Budgeting Analysis Return on investment (ROI) Net Present Value (NPV) Internal Rate of Return (IRR) Pay Back Period Rule Some Perspective Design Principles Data, Metrics, and Retirement Plans - Some Examples Health Care and Measurement - Plan Design Evaluating Providers and Their Clinical Outcomes - Sponsors' Efforts Conclusion Chapter Exercises Chapter 11: Equity Benefits (pp 331-353) Introduction Retirement Plans and Stock Stock Purchase Plans Stock Option Plans Restricted Stock Stock Appreciation Rights Some Issues Pertaining to Equity Awards Performance-Based Equity Awards Does Equity Compensation Work? Chapter Exercises Chapter 12: Government-Sponsored and Mandated Benefits (pp 354-407) Social Security Retirement Benefit (USA) Some Social Security Economic and Policy Issues Perspectives on Social Security Reform Health Care after Retirement - Medicare Medicare - Some Important Economic and Policy Issues Medicaid Perspectives on Medicaid Veterans' Health Care Mandated Benefits (COBRA, HIPAA, FMLA, USERRA) Chapter Exercises Chapter 13: Global Benefits (pp 408-448) Introduction Health Care in Europe Some General Principles and Features of European Health Systems Financing of Health Care - European Countries Current Problems and Issues in European Countries Some Perspectives on Costs, Long-term Health, and Reform China's Health Care System Some Conclusions - the U.S. and Other Countries Social Security - Providing and Insuring Retirement Income Some General Retirement Approaches in European and other OECD Countries China and Social Security Retirement Income Chile and the Personal Account Some Perspectives on Social Security Reform Competitive Labor Costs and Benefits Expatriates and Global Benefits - Taking Your Business Abroad Conclusion and Perspective - the Global Workplace Chapter Exercises Chapter 14: Collective Bargaining and Benefits (pp 449-467) General Obligation to Provide New Benefits Pursuant to Collective Bargaining What Will Happen to the Current Plans? Must the Company Bargain Over an Entry into a Joint Trust? Joint Trusts - Issues and Challenges MPPAA - What Happens if the Employer Closes His Operation and Leaves the Joint Trust? What if the Company and the Union Cannot Agree on Benefits? What Happens if the Contract Expires and There is No New Agreement? What Happens if the Contract Expires and the Employees Go on Strike? Bargaining and Retiree Health Care Conclusion and Perspective Chapter Exercises Chapter 15: Life & Disability Insurance, Pay for Time Not Worked (pp 468-489) Life Insurance Disability Insurance Pay for Time Not Worked - Sick Days, Vacation, and Holidays Chapter Exercises Chapter 16: Convenience & Accommodation Benefits, Benefits Administration (490- 505) Convenience and Voluntary Benefits Making the Benefits Fit the Workplace Concierge Benefits Flexibility Employee Assistance Plan (EAP) Company-sponsored Educational Benefits Administration of Employer Sponsored Benefits Outsourcing Administration Information Systems for Benefits Plan Optimization and Communication Chapter Exercises
Library of Congress Subject Headings for this publication:
Employee fringe benefits -- United States.
Postemployment benefits -- United States.
Health planning -- United States.